The paper introduces the DCFR, which is essentially the draft of a future EU Code of Obligations and works a bit like the UCC in the USA, as a model commercial code. After a brief historic justification of the draft, there is a presentation of what the DCFR can and cannot do at the present time....

The paper supports the 2015 bailout for Greece in the amount of some 86 billion Euro but it also argues that all international lenders should take a haircut of some 33% to bring Greek debt to a more sustainable level and that the focus for the future should be more on rebuilding the Greek...

This is a draft of an article that will be published - after some editorial revision - in the Journal of Governance and Regulation. It discusses first the differences between market economic models, socialist or planned economies, and economies controlled by monopolies or cartels, to make the...